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Current Affairs 8 October 2022

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DPIIT Announces Credit Guarantee Scheme for StartupsDPIIT notifies credit guarantee scheme for startupsThe Credit Guarantee Scheme for Startups (CGSS) has been established by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry (MoCI), to offer startups collateral-free loans up to a specified limit.

  • These loans are provided by Member Institutions (MIs), which include Scheduled Commercial Banks (SCBs), Non-Banking Financial Companies (NBFCs), and Alternative Investment Funds (AIFs) registered with the Securities and Exchange Board of India (SEBI).
  • These are financial intermediaries that engage in lending/investing and fulfill the criteria for eligibility under the Scheme.

CGSS will complement the existing Startup India initiative, Fund of Funds for Startups and Startup India Seed Fund Scheme, with the goal of mobilizing domestic capital for Indian startups.
About Ministry of Commerce and Industry (MoCI):
Union Minister– Piyush Goyal (Rajya Sabha – Maharashtra)
Ministers of State (MoS) – Anupriya Patel; Som Parkash
>> Read Full News

 Indian Railways Aims to Become a Net Zero Carbon Emitter by 2030Indian Railways plans to become Net Zero Carbon Emitter by 2030The Indian Railways (IR) intends to gradually reduce its carbon footprint and become a ‘Net Zero Carbon Emitter by 2030’ by completing electrification of all railway tracks and focusing on boosting network capacity.

  • As part of its Nationally Determined Contributions (NDCs), the Government of India (GoI) has set a target of 33% reduction in emissions intensity, with transportation as one of the important sectors with considerable mitigation potential.

Contribution of Indian Railways to India’s NDC for Tackling Climate Change
i.To increase share of IR in overall land-based freight transport from 36% to 45% by 2030.
ii.The IR is establishing Dedicated Freight Corridors (DFCs) across India, with the first phase of the project expected to reduce carbon-di-oxide (CO2) emissions by 457 million ton over a 30-year period.
iii.Perform, Achieve, and Trade (PAT) scheme will be implemented in the railway sector.
About Ministry of Railways:
Minister of Railways – Ashwini Vaishnaw (Constituency – Rajya Sabha, Odisha)
Minister of State (MoS) – Raosaheb Patil Danve; Darshana Jardosh
>> Read Full News


Food production need 165-600mn hectares more Land to meet Demand by 2050: FAO Reports

The Food and Agriculture Organization (FAO) of the United Nations (UN) released reports on deforestation, livestock grazing and farmer field schools at the FAO-Global Landscapes Forum (GLF) Digital Forum Transforming agrifood systems with forests on September 30, 2022.  These include:

The reports follow FAO’s flagship publication, The State of the World’s Forests 2022, which emphasizes the importance of halting deforestation, restoring degraded lands and expanding agroforestry, and creating green value chains.
Key Points from Reports:
i.There is a need of 165 to 600 million more hectares of land for crop and livestock production, the much of which is currently covered by forests and other critical ecosystems.
ii.The global demand for food will be 50% more in 2050 compared with 2012.
iii.Globally, 420 million hectares of forests vanished in the last two decades.
iv.There is also a need to slow the rate of deforestation which is at 8.8 million ha per year from 2010-2018..

  • From 2000-2018, almost 90% of deforestation globally was due to agricultural expansion.

v.The benefits of silvopastrolism were also highlighted which combines animal grazing and trees, and its potential to create alternate livelihoods.
vi.Properly integrated, grazing can play a vital role in restoring degraded land with trees, halting desertification and improving wildfire prevention in drylands.

  • Drylands are home to about 25% of the global population, contain 50% of the world’s livestock, and 27% of the world’s forests.

i.The report recommends the governments to create a kind of environment for farmers which maximizes production while minimizing the impact on forests and biodiversity.
ii.The governments should also separate deforestation from agricultural commodities that are associated with deforestation and forest degradation, such as beef, soy, palm oil, coffee, cocoa, rubber and others.
iii.Special attention to be given to smallholder farmers, who produce roughly 35% of the world’s food, but often live in poverty.


DAKSH: RBI launched SupTech app to improve Supervisory ProcessesRBI’s SupTech app DAKSH to improve supervisory processesOn October 6, 2022, the Governor of the Reserve Bank of India (RBI) launched a new SupTech initiative named दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System’ to further strengthen the supervisory processes.

  • The meaning of DAKSH is efficient and competent.
  • This app is part of RBI’s various initiatives in strengthening supervision by utilizing the latest technology for implementing more efficient and automated work processes.

Features of DAKSH:
i.It is a web-based end-to-end workflow application which will be used by RBI to monitor the compliance requirements in a more focused manner.
ii.This application envisages enhancing the compliance culture in Supervised Entities (SEs) like Banks, NBFCs (Non-Banking Financial Company), etc.
iii.It will also enable seamless communication, inspection planning and execution, cyber incident reporting and analysis, provision of various MIS (Management Information System) reports etc. with anytime-anywhere secure access.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment – 1935
Headquarters – Mumbai, Maharashtra

RBI introduces Internal Ombudsman mechanism for Credit Information CompaniesRBI introduces Internal Ombudsman mechanism for Credit Information CompaniesOn October 6, 2022, the Reserve Bank of India (RBI) directed all Credit Information Companies (CICs) holding a Certificate of Registration (CoR) under sub-section (2) of Section 5 of Credit Information Companies (Regulation) Act, 2005, to appoint Internal Ombudsman (IO) at the apex of their internal grievance redress mechanism by April 1, 2023.

  • The RBI made this direction in exercise of the powers conferred by sub section (1) of Section 11 of the CIC (Regulation) Act, 2005.
  • The implementation of the IO mechanism will be monitored by the CIC’s internal audit system.

Key Points:
i.IO will handle the complaints that the CIC has already reviewed but rejected in whole or in part .

  • IO will not be handling any complaints involving fraud and misappropriation, with the exception of those brought about by a CIC service failure.
  • It will also not look after the disputes for which remedy has been provided under Section 18 of the CIC (Regulation) Act.
  • The IO will not entertain any complaints directly from the members of the public.

ii.RBI will look at cases where the IO’s decision was rejected by the CIC.
iii.IO will report administratively to the Managing Director (MD) or Chief Executive Officer (CEO) of the CIC and functionally to the Board.
iv.Every CIC should appoint the internal ombudsman for a fixed term of not less than three years, but not exceeding five years.
RBI in August 2022 decided to include CICs under RBI-Integrated Ombudsman Scheme 2021 to give clients of regulated businesses a free alternative dispute resolution method for complaints regarding CICs.

HDFC Bank & Mintoak Innovations Launches SmartHub Vyapar App for MerchantsHDFC Bank launches SmartHub Vyapar for merchantsOn 6th October 2022 HDFC Bank in collaboration with Mintoak Innovations India, a merchant SaaS platform launched SmartHub Vyapar Merchant app, a one-stop merchant solution app designed to fulfil everyday business needs of merchants.

  • The app facilitates instant, digital, and 100 % paperless merchant onboarding for existing HDFC bank customers along with 24×7 support with EVA chatbot, to address any issues.

Key highlights:
i.Merchants can avail banking services like fixed deposits, quick access to pre-approved loans and credit cards along with a real time view of all SmartHub Vyapar transactions credited into their bank accounts.
ii.Merchants can get pre-approved loans depending on the requirements including business loans, credit card loans and overdraft (OD) facility.
i.Unlike other apps, this has an inbuilt voice feature that notifies the merchant of successful transactions.
ii.The app allows merchants to accept interoperable payments across multiple modes, including tap and pay through contactless cards, Unified Payment Interface (UPI), and QR code. It also accepts remote payments by sending a payment link through mobile or email.

About HDFC Bank:
Managing Director (MD) & Chief Executive Officer (CEO) – Sashidhar Jagdishan
Headquarters – Mumbai, Maharashtra
Established – 1994

IDBI Bank Launches Multiple Digital Solutions on Its 59th Foundation DayIDBI Bank launches many digital solutions on its 59th Foundation DayOn October 04, 2022, IDBI Bank Limited (IDBI Bank), a private sector bank, introduced a number of initiatives aimed at customer centricity and meeting the demands of the ever-evolving financial ecosystem on the occasion of their 59th Foundation Day.

  • In order to facilitate trade between customers and non-customers, the Bank announced its entry into Open Network Digital Commerce (ONDC). The IDBI Bank ONDC Sellers App will allow merchants to join the ONDC Platform.

ONDC is an open network that will assist the Ministry of Micro, Small & Medium Enterprises (MSME) and other retail merchants in setting up their digital stores and gaining the advantages of the digital commerce revolution.
Other Initiatives Launched by IDBI Bank:
DigiKCC Platform,WPS system ,‘GO Mobile+’ Mobile App,Repo Linked Fixed Deposit scheme,Amrit Mahotsav Rinn Bhugtan Yojana” are the other initiatives unveiled during the same event.
About IDBI Bank Ltd:
MD & CEO – Rakesh Sharma
Establishment – 1964
>> Read Full News

SEBI clarifies on Guidelines pertaining to Execution of DDPISebi clarifies on guidelines pertaining to instruction slips for share pledgingOn October 6, 2022, the Securities and Exchange Board of India (SEBI) widened the scope of the Demat Debit and Pledge Instruction (DDPI) for pledging and repledging of securities for margin purposes w.e.f. November 18, 2022.

  • Now, Mutual fund transactions executed on stock exchange order entry platforms and tendering of shares in open offers through stock exchange platforms will also be covered under the DDPI.
  • This decision has been taken to curb the misuse of Power of Attorney (PoA) given by clients to stock brokers.

This information is issued by SEBI in exercise of the powers conferred under Section 11(1) of the  SEBI  Act,  1992  and  Section  19  of  the Depositories  Act,  1996,  to  protect  the  interests  of  investors  in  securities  and  to promote the development of and to regulate the securities markets
About DDPI:
i.The DDPI has the same features of PoA but mitigates the misuse of PoA.
ii.With the DDPI, clients authorize the stock broker and depository participant to access their beneficial owners’ account only for the following two purposes.

  • Transfer of securities of the client towards stock exchange-related deliveries or settlement obligations arising out of trades executed by such a client.
  • Pledging or re-pledging securities in favour of the trading member or clearing member for the purpose of meeting the margin requirements of the client.

iii.A client can use the DDPI or opt to complete the settlement by issuing a physical Delivery Instruction Slip (DIS) or electronic Delivery Instruction Slip (EDIS) themselves.
iv.The existing PoAs will continue to remain valid till the time client revokes the same.
In July 2022, SEBI extended the deadline by two months to September 1, 2022 for implementation of the guidelines related to pledging and repledging of stocks for margin purposes. With the implementation of the guidelines, DDPI replaced the PoA document.
About Securities and Exchange Board of India (SEBI):
Chairperson– Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra
Establishment– 1992

Unity Bank Launches Special FD Scheme with attractive Interest Rate – Shagun 501

Bank launches special FD scheme Shagun 501 that offers 8.4% to senior citizens

Unity Small Finance Bank Limited (Unity Bank), a digital first bank, has launched Shagun 501, a special Fixed Deposit (FD) scheme at attractive interest rates.

  • This scheme will be made available for the money deposited on or before 31st October 2022.

Key highlights:
i.Under the scheme, the Unity Bank offers a 7.9 percent interest rate on a FD of 501 days for general customers and 8.4 percent for senior citizens.
ii.The Bank also revised its interest rates on Callable bulk deposits to offer up to 7 percent interest p.a. and Non-Callable Bulk Deposits (more than Rs. 2 crores) offer up to 7.25 percent interest p.a.
Note – In May 2022, the Reserve Bank of India (RBI) has hiked the repo rate which in turn increased the FD interest rates and also the lending rates.
About Unity Small Finance Bank Limited (Unity Bank):
Unity Bank is a Scheduled Commercial Bank promoted by Centrum Financial Services Limited with Resilient Innovations Private Limited as a joint investor.
Managing Director (MD) & CEO – Inderjit Camotra
Headquarters – Mumbai, Maharashtra
Establishment – 2018

ICICI Bank Launches ‘Smart Wire’ Facility for Inward Remittances

ICICI Bank launches ‘Smart Wire’ facility Key features and how it works

On 7th October 2022 ICICI Bank Limited launched ‘Smart Wire’, an online solution to allow Non Resident Indian (NRI)’s and resident customers to make SWIFT (Society for Worldwide Interbank Financial Telecommunications) based inward remittances through online.

  • ICICI Bank is the 1st bank in India to introduce such a quick and easy online solution to receive inward remittances.

Key highlights:
i.Through this facility, accurate information related to the beneficiary, purpose of the inward remittance and declaration are prepared in advance and shared with the remitter instantly.
ii.This facility can be used for various remittances purposes including family maintenance and savings, personal gift, financial support, Non Resident External (NRE) and Non Resident Ordinary (NRO) repatriation, salary, business and management consultancy.
i.Smart Wire enables beneficiaries to initiate the wire transfer request, submit online declaration and documents, block the exchange rates in advance and track the status of the transaction.

  • The blocking of exchange rates are available for currencies including US Dollar (USD), Euro (EUR), British pound sterling (GBP), Emirati Dirham (AED), Canadian Dollar (CAD), Singapore Dollar (SGD) and Australian dollar (AUD).

About ICICI Bank Limited:
MD & CEO – Sandeep Bakhshi
Headquarters – Mumbai Maharashtra
Establishment – 1994

SEBI cancels Brickwork’s licence, orders wind-up by April

On 6 October 2022, the Securities and Exchange Board of India (SEBI) cancelled the certificate of registration of Brickwork Ratings, granted in 2008 and directed it to wind up operations in six months.

  • Brickwork Ratings is a credit rating agency (CRA) and is one of the seven credit rating agencies registered with SEBI. The others are Crisil, ICRA, CARE, Fitch, Infomerics Ratings and Acuité Ratings & Research.
  • The strict action was taken as it failed to exercise proper skill, care and diligence while discharging its duty. 
  • The SEBI order listed various violations by Brickwork, including failure to document meetings with the management, lack of independent analysis of financial projections given by companies, delay in recognizing defaults and conflict of interest.
  • It is considered as the toughest regulatory action against any credit rating firm.
  • Initially, the SEBI and the Reserve Bank of India (RBI) conducted a joint audit of the rating agency in January 2020.


World Bank cuts India’s Growth Forecast to 6.5% for FY23World Bank cuts India’s growth forecast to 6.5 per cent for FY 23On October 6, 2022, the World Bank (WB) in its latest South Asia Economic Focus titled ‘Coping with Shocks: Migration and the Road to Resilience’  has declined the real Gross Domestic Product (GDP) growth forecast for India for 2022-23 (FY23) to 6.5%, from an earlier estimate of 7.5%.

  • For FY23-24, this projection is 7%, and for FY24-25 it will be 6.1%.
  • The reason behind this cut is the Ukraine-Russia war, and global monetary tightening.
  • This is the third time WB has revised its GDP growth forecast for India in FY23. In June 2022, it had slashed its FY23 GDP growth forecast for India to 7.5%. In April 2022 had trimmed the forecast from 8.7% to 8%.

South Asian Regional Growth (excluding Afghanistan):
i.It projects regional growth to average 5.8% in 2022 from 6.8% in June 2022.
ii.The economic growth forecast for the years 2023 and  2024 is also at 5.8%.
iii.Inflation in South Asia is expected to rise to 9.2% in FY23 amid elevated global food and energy prices and trade restrictions that worsened food insecurity.
Key Points:
i.It should be noted that Real GDP for India grew 13.5% in the Q1FY23, surpassing the pre-pandemic level by 3.8%.
ii.Among other economic watchdogs, S&P Global Ratings and OECD (Organisation for Economic Co-operation and Development) retained India’s growth forecast for FY23 at 7.3% and 6.9% respectively.
iii.ADB (Asian Development Bank) and Fitch cut India’s GDP growth forecast to 7% for FY23.
iv.Ind-Ra expects the same at 6.9%, while SBI Economic Research Division projected at 6.8%.
iii.The Reserve Bank of India (RBI) cut the economic growth projection for FY23 to 7% from 7.2% estimated earlier.
iv.The United Nations Conference on Trade and Development (UNCTAD) in its Trade and Development Report 2022 also declined India’s economic growth to 5.7% in 2022 citing higher financing cost and weaker public expenditures.

  • India’s GDP will further decelerate to 4.7% growth in 2023.

About World Bank (WB):
President– David Malpass
Headquarters– Washington, DC, United States
Establishment– 1944

NTPC signs MoU with GE Gas Powerfor demonstrating hydrogen co-firing in gas turbines

On 6 October 2022, National Thermal Power Corporation (NTPC) signed a first-of-its-kind Memorandum of Understanding (MoU) with GE Gas Power to explore the feasibility of hydrogen (H2) co-firing blended with natural gas in GE’s 9E gas turbines installed at NTPC’s Kawas gas power plant in Gujarat.

  • The agreement is in the direction to meet the objectives under the National Hydrogen Mission (NHM).
  • Both the companies will jointly explore the pathways to reduce CO2 emissions from Kawas gas power plant and further implementation at scale across NTPC’s installed units in India.
  • The Kawas plant in Gujarat is powered by four GE 9E gas turbines operating in a combined-cycle mode and has an installed capacity of 645 megawatt (MW).
  • GE’s advanced E-class gas turbine portfolio currently has the capability to burn up to 100% by volume of hydrogen when blended with natural gas.
  • GE Gas Power will evaluate the possible modifications in the gas turbine unit and auxiliaries required for blending of H2 with natural gas and the NTPC will provide H2 required for the project.     


RBI approves reappointment of Prashant Kumar as MD and CEO of Yes Bank for 3 yrsRBI approves reappointment of Prashant Kumar as MD and CEO of Yes Bank for 3 yrsOn 6 October 2022, The Reserve Bank of India (RBI) approved the re-appointment of Prashant Kumar as Managing Director (MD) and Chief Executive Officer (CEO) of Yes Bank for 3 years with effect from 6 October 2022.

  • He was earlier appointed as MD & CEO of Yes Bank post the Reconstruction in March 2020.

i.The appointment is subject to approval of shareholders.
ii.In September 2022, RBI also approved the appointment of its former deputy governor R Gandhi as non-executive part time chairman of Yes Bank for three years.
About Prashant Kumar:
i.He is a science and law graduate from Delhi University (DU).
ii.Prior to joining Yes Bank, he was Deputy Managing Director & Chief Financial Officer (CFO) of  State Bank of India (SBI).
iii.He joined the SBI as a probationary officer (PO) in 1983 and has the experience of 34 years of service.
About Yes Bank:
Founded- 2004
Headquarters- Mumbai, Maharashtra
Tagline- ‘’Experience Our Expertise’’

Gulf Oil appointed Smriti Mandhana as Brand AmbassadorGulf Oil ropes in Smriti Mandhana as brand ambassadorOn 6th October 2022, Gulf Oil India, a lubricant manufacturer appointed Smriti Shriniwas Mandhana, an Indian cricket star as its new Brand Ambassador. She will join famous cricketers and current brand ambassadors Mahendra Singh Dhoni and Hardik Himanshu Pandya.
About Smriti Mandhana:
i. Smriti Mandhana was born on 18 July 1996 in Mumbai, Maharashtra, a professional Indian cricketer who plays for the Indian Women’s National team.
ii. At the age of 9, she got selected for Maharashtra’s Under-15 team. At 11, she was a part of the Maharashtra Under-19s team.
iii. In 2013, she became the 1st Indian woman to achieve a double century in a one-day match. While representing Maharashtra, she scored an unbeaten 224 runs in just 150 balls in the West Zone Under-19 Tournament, at the Alembic Cricket Ground in Vadodara.
iv. In 2018, the Board of Control for Cricket in India (BCCI) named her the Best Women’s International Cricketer of the year.
v. She received the honourable ‘Arjuna Award’ in 2018 and the Rachael Heyhoe Flint Trophy for the International Cricket Council (ICC) Women’s Cricketer of the Year 2021.
About Gulf Oil Lubricants India Ltd:
Managing Director & Chief Executive Officer (MD & CEO)- Ravi Chawla
Headquarters- Mumbai, Maharashtra
Establishment- 2008

Birla MD & CEO Balasubramanian re-elected as Chairman of AMFI Birla MD Balasubramanian re-elected AMFI chiefOn 7th October 2022, A. Balasubramanian, Managing Director (MD) & Chief Executive Officer (CEO) of Aditya Birla Sun Life Asset Management Company (formerly known as Birla Sun Life Asset Management Company Limited) has been re-elected as Chairman of the Association of Mutual Funds in India (AMFI), the body of the Mutual fund industry.
Key Points:
i. Radhika Gupta, MD of Edelweiss Mutual Fund Asset Management Company(AMC), will continue as Chairperson of the AMFI Committee on Operations, Compliance and Risk of AMFI.
ii. Sundeep Sikka, Executive Director & CEO of Nippon Life India Asset Management Limited, has been elected as Chairman of the Exchange Traded Fund (ETF) committee.
iii. Vishal Kapoor, CEO of Infrastructure Development Finance Company (IDFC) Limited Asset Management has been re-elected Chairman of the AMFI Committee of Certified Distributors (ARN Committee).
iv. Nilesh Shah, MD of Kotak Mahindra Asset Management was re-elected Chairman of the AMFI Valuation Committee.
v. Navneet Munot, MD & CEO of Housing Development Finance Corporation Limited (HDFC) Asset Management was re-elected AMFI Equity CIO Committee.
About the Association of Mutual Funds in India (AMFI):
i. AMFI (a non-profit organisation), the association of all the AMCs of the Securities and Exchange Board of India (SEBI) registered mutual funds in India under SEBI (Mutual Funds) Regulations, 1996.
ii. It has 43 Asset Management Companies that are AMFIs members registered with SEBI.
Chairman- A. Balasubramanian
Headquarters- Mumbai, Maharashtra
Establishment- 1995

Walkaroo appoints Ajay Devgn as brand ambassador

Walkaroo International Ltd appointed Bollywood actor Ajay Devgn as its Brand Ambassador.It is a footwear brand and would unveil a series of television commercials featuring the actor.

  • Ajay Devgan will promote its marketing campaign which includes three commercial films of the actor on the brand theme ‘Walk with Walkaroo.’
  • Ajay Devgn is an actor, film director and producer who works in Hindi cinema. He appeared in over a hundred films and won numerous accolades, including four National Film Awards and four Filmfare Awards.
  • Walkaroo was launched in the year 2012. The brand claims to have grown its portfolio with more additions that included flip flops, sports shoes, and half shoes, for men and women. It has sub-brands, Walkaroo and Blue Tyga, to cater to consumers across age groups.

Bank of India Mutual Fund appoints Mohit Bhatia as CEO

Bank of India Investment Managers Private Ltd, a wholly-owned subsidiary of Bank of India appointed Mohit Bhatia as the new Chief Executive Officer (CEO)with effect from October 04, 2022.

  • Mohit Bhatia is a mechanical engineer and holds an MBA degree from Management Development Institute, Gurgaon, Haryana.
  • Prior to this appointment he served as the head of sales & marketing in Canara Robeco Asset Management Company.
  • Mohit Bhatia has experience of 30 years in the mutual funds and financial services industry.
  • He had also served Franklin Templeton AMC, Axis Bank, DSP Merrill Lynch Investment Managers Alliance Capital AMC.  


AIFF Signed a Historic MoU with SAFF for Promotion of Football Activities

On 6th October 2022 the All India Football Federation (AIFF) signed a Memorandum of Understanding (MoU) with the Saudi Arabian Football Federation (SAFF) for the promotion of football activities.

  • The MoU was signed in the presence of visiting AIFF president Kalyan Chaubey,secretary general Shaji Prabhakaran and Saudi Arabian FF president Yasser Al-Mishal and general secretary Ibrahim Al Kassim, the AIFF.

Key highlights:
i.The main focus of this agreement is to host the knockout phase of Santosh Trophy in Saudi Arabia to encourage State level players and to connect with the AIFF.

  • AIFF and SAFF agreed to study the possibility of hosting the final stages of the National Football Championships (NFC) for the Santosh Trophy which will be held in February 2023.

ii.The MoU will also enable a wide range of activities, including the provision of technological support, the organisation and hosting of young men and women football competitions on a regular basis along with the exchange of football experts and governance.
Note – The 7th edition, 2022 FIFA U-17 Women’s World Cup will be hosted by India between 11th October 2022 and 30th October 2022 in Bhubaneswar, Goa, and Navi Mumbai.
About All India Football Federation (AIFF):
President – Kalyan Chaubey
Headquarters – New Delhi, Delhi
Establishment – 1937


Veteran actor, National Award-winning producer Arun Bali passed awayveteran actor, national award-winning producer arun bali passesVeteran Actor and National award winning producer Arun Bali passed away at the age of 79 years in Mumbai, Maharashtra.He is known for his roles in Bollywood films such as in 3 Idiots, Kedarnath etc.He was suffering from a rare neuromuscular disease called Myasthenia Gravis.

About  Arun Bali:
i.Arun Bali was born on 23 December 1942 in Punjab. He was an Indian actor who has worked in numerous films and television series.He was also a National award winning producer.
ii.He played the part of King Porus in the 1991 period drama Chanakya, he became known for his “grandfatherly” roles like that of Harshvardhan Wadhwa in Kumkum serial. He worked in more than 200 films and serials.
Famous movies of Arun Bali:

  • Manmarziyaan (2018)
  • Kedarnath (2018)
  • Panipat (2019)
  • Laal Singh Chaddha (2022)


World Cotton Day 2022 – October 7World Cotton Day 2022The United Nations (UN)’s World Cotton Day (WCD) is annually observed across the globe on 7 October to show the enduring positive impact on Cotton and raise awareness of the importance of cotton and cotton-related products.

  • 7th October 2022 marks the observance of the 4th World Cotton Day.

i. According to the Food and Agriculture Organization (FAO) of the United Nations, the theme for World Cotton Day 2022 is ‘Weaving a better future for Cotton’.
ii. The United Nations General Assembly (UNGA) adopted the resolution A/RES/75/318 on 30th August 2021 and declared 7 October of each year as World Cotton Day.
iii. World Cotton Day was launched at the World Trade Organization (WTO) in Geneva, Switzerland on 7th October 2019 in collaboration with the Secretariats of FAO, United Nations Conference on Trade and Development (UNCTAD),  International Trade Centre (ITC) and International Cotton Advisory Committee (ICAC).
iv. The 1st ever World Cotton Day was observed on 7th October 2019.
About the International Cotton Advisory Committee (ICAC):
Executive Director- Kai Hughes
Headquarters- Washington, D.C., United States
Establishment- 1939
>> Read Full News


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S.noCurrent Affairs 8 October 2022
1DPIIT Announces Credit Guarantee Scheme for Startups
2Indian Railways Aims to Become a Net Zero Carbon Emitter by 2030
3Food production need 165-600mn hectares more Land to meet Demand by 2050: FAO Reports
4DAKSH: RBI launched SupTech app to improve Supervisory Processes
5RBI introduces Internal Ombudsman mechanism for Credit Information Companies
6HDFC Bank & Mintoak Innovations Launches SmartHub Vyapar App for Merchants
7IDBI Bank Launches Multiple Digital Solutions on Its 59th Foundation Day
8SEBI clarifies on Guidelines pertaining to Execution of DDPI
9Unity Bank Launches Special FD Scheme with attractive Interest Rate – Shagun 501
10ICICI Bank Launches ‘Smart Wire’ Facility for Inward Remittances
11SEBI cancels Brickwork’s licence, orders wind-up by April
12World Bank cuts India’s Growth Forecast to 6.5% for FY23
13NTPC signs MoU with GE Gas Powerfor demonstrating hydrogen co-firing in gas turbines
14RBI approves reappointment of Prashant Kumar as MD and CEO of Yes Bank for 3 yrs
15Gulf Oil appointed Smriti Mandhana as Brand Ambassador
16Birla MD & CEO Balasubramanian re-elected as Chairman of AMFI
17Walkaroo appoints Ajay Devgn as brand ambassador
18Bank of India Mutual Fund appoints Mohit Bhatia as CEO
19 AIFF Signed a Historic MoU with SAFF for Promotion of Football Activities
20Veteran actor, National Award-winning producer Arun Bali passed away
21World Cotton Day 2022 – October 7